AT&T INC. — Director's Dealing 2011

Jul 5, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2011-06-30

Reporting Person: WILKINS RAYFORD JR (CEO-AT&T Diversified Bus.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-06-30	Common Stock	A	708.3096	$31.41	Acquired	25457.2208	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	309109.3316	Direct
Common Stock	8058.2944	Indirect
Common Stock	5.9016	Indirect
Common Stock	684.4727	Indirect

Footnotes

F1: Represents shares purchased by the reporting person with automatic deductions from payroll and, to a limited extent, company matching contributions, in the form of deferred stock units settled only in stock on a 1-for-1 basis as provided for in the plan.